Category Archives: General

Ontario’s Fair Housing Plan aimed at cooling housing market

Ontario's Fair Housing Plan aimed at cooling housing market in Ontario

April 20th, 2017 | Toronto | Professional Real Estate Investors Group (PREIG) Canada |

Ontario's Fair Housing Plan introduces a comprehensive package of measures to help more people find affordable homes, increase supply, protect buyers and renters and bring stability to the real estate market.

Ontario's housing market has seen very dynamic growth in recent years,

with prices in the Greater Toronto Area and the Greater Golden Horseshoe rising significantly. This has been supported by economic fundamentals, including a growing population, rising employment, higher incomes and very low borrowing costs.

House prices have been rising at a robust pace in the Greater Toronto Area since the end of the 2008-09 recessions.

After two consecutive years of double-digit gains, average house prices in the Toronto region reached $916,567 in March 2017, up 33.2% from a year earlier.

Ontario plans to help cool a hot housing market by bringing 16 proposed measures:

  • A 15% non-resident speculation tax to be imposed on buyers in the Greater Golden Horseshoe area who are not citizens, permanent residents or Canadian corporations.Refugees and nominees under the Ontario Immigrant Nominee Program would not be subject to the NRST. Subject to eligibility requirements, a rebate would be available for those who subsequently attain citizenship or permanent resident status as a well as foreign nationals working in Ontario and international students.
  • Expanded , including those built after 1991, which are currently excluded. The increase is capped at a maximum of 2.5 per cent. Updates to the Residential Tenancies Act to include a standard lease agreement, and technical changes to the Landlord-Tenant Board meant to make the process fairer, as well as other changes.
  • A program to leverage the value ofassets across the province to develop a mix of market-price housing and Potential sites under consideration for a pilot project include the West Don Lands, 27 Grosvenor/26 Grenville Streets in Toronto, and other sites in the province. This builds on an agreement reached previously with the City of Toronto to ensure a minimum of 20% of residential units within the West Don Lands are available for affordable rental, with an additional 5% of units for affordable ownership.
  • Legislation that would allow Toronto and possibly other municipalities to introduce a in an effort to encourage property owners to sell unoccupied units or rent them out.
  • A plan to ensure is charged at a similar rate as other residential properties.
  • A aimed at encouraging the construction of by rebating a portion of development charges.
  • More flexibility for municipalities when it comes to using
  • The with dedicated provincial employees to identify barriers to specific housing development projects and work with developers and municipalities to find solutions.
  • An effort to understand and in the housing market. Paper flipping,(Wholesaling) a practice that includes entering into a contractual agreement to buy a residential unit and assigning it to another person prior to closing.
  • A review of the ensure that consumers are fairly represented in real estate transactions.
  • The launch of a which will meet quarterly to provide the government with ongoing advice about the state of the housing market and discuss the impact of the measures and any additional steps that are needed. The group will have a diverse range of expertise, including economists, academics, developers, community groups and the real estate sector.Professional real estate investors group (PREIG) Canada would like to be part of it.
  • Education for consumers on their rights, particularly on the issue of one in a real estate transaction.
  • A to explore more comprehensive reporting requirements so that correct federal and provincial taxes, including income and sales taxes, are paid on purchases and sales of real estate in Ontario.
  • Set timelines for to be established in consultation with the sector and the Technical Standards & Safety Authority
  • Provisions that would require municipalities to consider the appropriate to accommodate a diverse range of household sizes and incomes, among other things. As part of the implementation of the Growth Plan for the Greater Golden Horseshoe, 2006, enough land was set aside in municipal official plans to accommodate forecasted growth to at least 2031.

 

 

 

 

 

 

Actions to Date taken by province of Ontario

The Ontario government has taken a number of actions over recent months and years in order to support homebuyers, increase supply of affordable and rental housing and promote fairness. These include:

  • Helping more people purchase their first home by doubling the maximum Land Transfer Tax refund for eligible first-time homebuyers to $4,000. This means eligible homebuyers in Ontario pay no Land Transfer Tax on the first $368,000 of the cost of their first home.
  • Modernizing the Land Transfer Tax to reflect the current real estate market, including increasing rates on one or two single-family residence over $2 million. Revenue generated from the increased rates is being used to fund the enhancements to the First-Time Homebuyers Refund.
  • Making it easier for not-for-profit affordable housing providers to buy surplus government lands.
  • Introducing an inclusionary zoning framework for municipalities that will enable affordable housing units as part of residential developments.
  • Amending the Planning Act and the Development Charges Act to support second units, allowing homeowners to create rental units in their primary residence and creating additional supply.
  • Freezing the municipal property tax burden for multi-residential apartment buildings in communities where these taxes are high.
  • Collecting information about Ontario's real estate market to support evidence-based policy development

DISCLAIMER

We believe the information contained in this article to be accurate. It is presented with the understanding that we are not engaged in rendering legal, accounting, or investment advice. When professional assistance is required, utilize the services of a licensed real estate broker, lawyer, accountant, or other consultant as may be required.

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Properties for Sale or Lease City of Hamilton,Ontario Canada

Properties for Sale or Lease City of Hamilton,Ontario Canada

 

Properties for Sale or Lease City of Hamilton,Ontario Canada
https://www.hamilton.ca/buying-selling-city/city-real-estate/properties-sale-or-lease

City-owned property sales online or advertise them through a Request for Proposal or Tender.

Hamilton Beach properties for sale
The following are the sale terms for beach lots in Hamilton:

Being sold “as is”
No financing available.
Council must approve all offers.
Building covenants registered on title.

Properties for Sale or Lease City of Hamilton,Ontario Canada
https://www.hamilton.ca/buying-selling-city/city-real-estate/properties-sale-or-lease

DISCLAIMER

We believe the information contained in this article to be accurate. It is presented with the understanding that we are not engaged in rendering legal, accounting, or investment advice. When professional assistance is required, utilize the services of a licensed real estate broker, lawyer, accountant, or other consultant as may be required.

 

 

 

 

 

 

 

 

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Surplus properties in the City of Toronto

Surplus properties in the City of Toronto

Surplus Property

 

The Chief Corporate Officer is authorized to declare land surplus and approve the intended manner or process by which the disposition of land will be carried out.

More info at
http://www1.toronto.ca/wps/portal/contentonly?vgnextoid=979ae9d747471410VgnVCM10000071d60f89RCRD

Disclaimer
While the information provided in this website has been compiled from sources believed to be accurate, users of this website must exercise appropriate due diligence and independently review and verify the information. None of the City, its officers, employees, agents, representatives or elected and appointed officials make any representations or warranties about the accuracy or completeness of the information or have any liability or responsibility for the accuracy or completeness of any of the information. In using this website, you will be deemed to have read and accepted these terms of use.

DISCLAIMER

We believe the information contained in this article to be accurate. It is presented with the understanding that we are not engaged in rendering legal, accounting, or investment advice. When professional assistance is required, utilize the services of a licensed real estate broker, lawyer, accountant, or other consultant as may be required.

 

 

 

 

 

 

 

 

Flipping for instant profit LIVE real estate training seminar
Reserve your seat now at
www.Flipping4Profit.ca
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Canadian Creative Financing Apprenticeship
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How to Buy Surplus Federal Property in Canada

How to Buy Surplus Federal Property in Canada

 

Public Works and Government Services Canada offers surplus federal real estate for sale. The properties listed on this site are either: currently available for sale to the general public, at market value; or anticipated as being for sale to the general public, at market value. Many of these properties are now listed on the Multiple Listing Service® (MLS®).

Using the map, you may click on the Province or Territory in which you would like to search. You may also use the Province drop-down menu above the map which will also allow you to search “all of Canada”. Select a specific Listing Type using the Listing Type radio buttons to the left of the Province drop-down menu. You may also enter a Region / County / District and/or City / Town / Village and/or a Place Name to search in. If you're only interested in properties within a certain price range, enter values in the From and/or To fields in the Price Range section. Finally, to initiate the search click on the Search button.

How to Buy Surplus Federal Property in Canada
http://id-reo.tpsgc-pwgsc.gc.ca/public/ffchrdspl.do?page=chtrb

DISCLAIMER

We believe the information contained in this article to be accurate. It is presented with the understanding that we are not engaged in rendering legal, accounting, or investment advice. When professional assistance is required, utilize the services of a licensed real estate broker, lawyer, accountant, or other consultant as may be required.

 

 

 

 

 

 

 

 

 

Flipping for instant profit LIVE real estate training seminar
Reserve your seat now at
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Surplus Municipal Property for Sale City of Kawartha Lakes

 Surplus Municipal Property for Sale City of Kawartha Lakes

The Council for the Corporation of the City of Kawartha Lakes
has declared a number of municipally owned lands
as surplus to municipal needs.

More properties are being added regularly.

Contact Realty Services

Tel: 705-324-9411 extension 1261 (Nikki Whaley)
Email: realtyservices@city.kawarthalakes.on.ca.

PLEASE NOTE:

All surplus municipal properties listed below may be subject to the Planning Act process to amend Official Plan land use policies and/or zoning provisions depending on the potential purchaser’s intended end use. Any Planning Act applications changes required as part of a purchase are at the initiation and expense of the purchaser. The current timeline for this process ranges between 4-10 months depending on the requested change. Please satisfy yourself in regards to the current land use permissions of the property and the required timeline of your intended changes prior to making an offer. Any questions regarding Official Plan land use policies and zoning as well as process related questions can be directed to the Planning Division at 705-324-9411.

2017 Home ownership Down payment Assistance Program Windsor-Ontario Canada

2017 Home ownership Down payment Assistance Program Windsor-Ontario Canada

Disclaimer:

Details contained herein are for informational purposes only and are not to be relied upon as a comprehensive or precise representation of the program, its terms and conditions, or eligibility rules.

The Federal and Provincial governments partnered to fund a Homeownership Downpayment Assistance Program.

It is expected this round of the program can provide assistance to a limited number of households.
Downpayment assistance of 10% of the purchase price of an eligible home,

up to a maximum of $20,850 is provided by a 20-year forgivable loan
registered on title as a second mortgage.

Applicant eligibility criteria include income and asset limits among other criteria.
For additional information, please refer to the Program Information Sheet and sample Loan Agreement at the links provided below.

The program expires when program funds are depleted or on November 30, 2017, whichever occurs first.

2017 Home ownership Down payment Assistance Program Windsor-Ontario Canada
http://www.citywindsor.ca/residents/housing/pages/homeownership-program.aspx

Learn more about Canadian real estate grants at
www.GovernmentGrantsCanada.ca

The Affordable Home Ownership program by Chatham-Kent Housing Services

The Affordable Home Ownership program by Chatham-Kent Housing Services

Affordable Home Ownership

The Investment in Affordable Housing (IAH 2014 Extension), Homeownership Program is being delivered by Chatham-Kent Housing Services on behalf of the Federal and Provincial governments. The Affordable Home Ownership program provides individuals and families with a loan for the down payment on a home.

Applications are now being accepted!

If you qualify, you can receive 7% of the purchase price of a home,

up to a maximum of $7,300. Funding is in the form of a 20 year interest-free loan registered on title.

The home must:

Be located in the Municipality of Chatham-Kent
Have a maximum purchase price of $153,900
Be approved by Chatham-Kent Housing Services Division
Have a home inspection completed by a Registered Home Inspector or Associate/Applicant Member of the Canadian Association of Home and Property Inspectors. The cost of the inspection is at the purchaser’s expense.

To qualify you must…

Be at least 18 years old and currently renting
Not own or not partly own another home or property
Not owe money to a Social Housing landlord
Be a legal resident of Canada
Have a total gross household income of $68,000 or less
Be eligible for a mortgage at a recognized financial institution
Intend to have this home as your one and only residence (you cannot transfer or lease it to someone else)

How do I apply?

Read the CKHS Home Ownership Fact Sheet
Complete and sign the CKHS Home Ownership Application Form
Deliver or mail your completed application form to CKHS with all of the required supporting documents

For a copy of the application:

Call CKHS to have an application mailed to you
Visit the CKHS office during regular office hours: Monday to Friday (excluding holidays) 8:30 a.m. to 4:30 p.m.
Note: Details are subject to change at the discretion of the Chatham-Kent Housing Services Division (CKHS) and per the requirements of the Ministry of Municipal Affairs and Housing.
Be sure to check back regularly for updates!

The Affordable Home Ownership program by Chatham-Kent Housing Services
https://www.chatham-kent.ca/HousingServices/housingprograms/Pages/HomeOwnership.aspx

Learn more about Forgivable Canadian real estate grants at
www.GovernmentGrantsCanada.ca

City of Peterborough Home ownership Assistance Loan Program 2017

City of Peterborough
Home ownership Assistance Loan Program 2017

Starts April 3, 2017

 

 

 

 

 

 

 

 


The City of Peterborough is offering a
$15,000 loan to assist with a down payment

. The eligibility criteria for this Program include, but are not limited to, the following:

Applicants:

Are currently renting (as defined by the Residential Tenancies Act,2006);

Do not presently own a home or property;

Do not owe money to a social housing landlord;

Have a gross annual household income up to $78,400;

Will use the purchased home as the sole and principal residence;

Qualify for a mortgage from a qualified lender; and

Are at least 18 years old.

The Home:

Is purchased for $300,000 or less;

Is a single detached, semi-detached, townhouse, row, or apartment unit
(freehold or condominium);

Is inspected by a professional home inspector (resale homes); or

Is covered under the Ontario New Home Warranty Program (new homes);

Is located in the City or County of Peterborough; and

Is of a modest size (approx. 1100 sq. ft for a 3 bedroom home).

[b]Application Process:[/b]

Step 1

Household eligibility approval

Mortgage pre-approved by qualified lender

Homeownership Education complete

Step 2

Requires signed-back Agreement of Purchase and Sale dated at least 5days
later then the date of your Step 1 Eligibility Approval Letter and with a
minimum of 30 days notice of the closing date

Signed-back Loan Agreement to receive loan upon closing

Other Key Points:

The loan is forgiven if the home
is the sole and principal residence for 20 years, but is otherwise repayable.

The loan is registered on title as a second mortgage on closing.

Canada Mortgage and Housing Corporation (CMHC) mortgage insurance treats the
$15,000 loan as equity.

Additional funds may be available to
applicants moving out of social housing.

Household assets, including any gifting amounts from
friends or family, savings, GICs etc. cannot exceed $15,000.

RRSPs do count towards personal assets
if they can be accessed for home
purchases as per Canada Revenue Agency guidelines.

The loan amount may be decreased if
$15,000 is greater than 10% of the purchase price.

Loans will be offered, subject to availability, on a first-come, first-serve basis.

The Program ends when funding has been allocated or December 1, 2017

Peterborough Renovates Program (PRP)

Peterborough Renovates Program (PRP)


 

 

 

 

 

 

 

 

 


The Peterborough Renovates
Program (PRP) is a home repair
program.
It helps low to moderate
income homeowners afford home
necessary repairs and upgrades.
This can include energy and
accessibility work.

Funding comes from the federal
and provincial governments.
The
whole program is called the
Investment in Affordable Housing
program.
The City of Peterborough has a
contract with Habitat for Humanity
to delivery PRP.
This means that
staff at the Habitat office handle all
applications and questions.

Yes, funding is limited.
Funding is provided to
qualifying applicants on a
first-come, first-served basis.
When funding has been used for
the current year, applicants may
be placed on a wait list.

This program can help
homeowners in both the City
and County of Peterborough.

You must meet all program
requirements to be an eligible
applicant.

There are
household income
and house value limits.

Applications will be processed
as funding is available each year.

PRP may be expanded to
include a component for
multi-unit residential projects in
the future. This is at the
discretion of the City.

Repairs and upgrades that may be
eligible under this program include:

Fire and life safety related

Foundation and structural

Heating and ventilation systems

Insulation

Windows and exterior doors

Roofs and eaves

Septic systems

Water supply systems

Electrical / plumbing

Accessibility related
The Program Guidelines
lists the types of eligible repairs.
Security type upgrades are included
in the program.

A household can receive no more
than $25,000 through PRP.
This could include a grant for up to
$5,000 for accessibility work.

The applicant must pay for any
costs greater than the approved
project amount

These loans are “forgiveable” with
a term of 10 years.

“Forgiveable” means that you do
not need to pay anything as long
as you continue to meet the terms
in your loan agreement.
All loans will be registered as either
a Mortgage or a Notice on Title.

Contact
Habitat for Humanity
Peterborough & Kawartha
Region for an application. Habitat
is the delivery agent for PRP.
This means they handle all
applications for the program.

Phone:
705-750-1456 or 1-855-750-1456

Email: louise@habitatpkr.ca

Check out the website for more
information:
www.habitatpeterborough.ca/peterborough-renovates

Their office hours are Monday to
Friday from 9:00a.m. to 4:00p.m.

High River flood homes listed under $500 in Alberta Government Auction

High River flood homes listed under $500 in Alberta Government Auction

Assessed at nearly $1 million prior to the 2013 flood,
a High River estate home could be yours for as little as a few thousand dollars.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Prior to the June 2013 flood, the affluent neighbourhood
on High River's west side brimmed with life.
Today the area is a virtual ghost town,
its remaining homes boarded up,
a rocky levee blocking the road that once connected
the community to the rest of the town south of Calgary.

A quick scan of the available properties,
of which 25 are in and around flood-ravaged High River and another in Sundre,
shows a range of housing types,
with a handful of rustic rural properties and modest family
dwellings mingled with large and well-appointed estate homes.

Most of the properties are in the High River community of Beachwood Estates,
an area determined to be in the flood plain of the Highwood River.

Under the province's Floodway Relocation Program,
some 94 properties were acquired by the province,
which shelled out $92.9 million to displaced homeowners.

 

 

 

 

 

 

 

 

Of those, 54 were slated for demolition with the
26 now up for auction considered salvageable.
Another 14 properties, all in High River,
are awaiting a decision on their ultimate fate

The bidders could be in for a steal of a real estate deal,
with one not-so-small catch.
Successful bidders have 160 days from the auction's
closing to relocate the properties so the province can
remediate the flood-impacted land.

Also, the properties are sold as is, though each comes
with a thorough structural and environmental assessment by the province

The one stipulation is that each home must be moved off
the property within 160 business days of the sale.

All the homes for sale were deemed suitable for relocation,
and they’re being sold on the government’s online auction site.

It’s up you to get it off the lot.

The 26 homes are being sold on the government’s online auction site.

The government bought up the homes to give Albertans
the freedom to relocate to areas that are not in a flood zone.

The bidding closes Feb. 17, 2017

http://surplus.gov.ab.ca/OA/ItemList.aspx?categoryID=47